Required information The Foundational 15 (Algo) [LO5-1, LO5-3, LO5-4, LO5-5, LO5-6, LO5-7, LO5-8] [The following information applies to the questions displayed below.] Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses $ 80,000 52,000 28,000 21,840 Net operating income. $ 6,160 Foundational 5-7 (Algo) 7. If the variable cost per unit increases by $1, spending on advertising increases by $1,700, and unit sales increase by 240 units, what would be the net operating income? Answer is complete but not entirely correct. Net operating income $ 8,700